Lufax Holding

Lufax Holding Ltd. operates a technology-empowered personal financial services platform. It offers personal lending and wealth management solutions. The company was founded in August 2005 and is headquartered in Shanghai, China.

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Lufax Holding faces challenges in Q4 but shows resilience

Lufax Holding navigated challenges in Q4 2022, focusing on asset quality, cost optimization, and strategic growth initiatives amidst a changing macro environment.
Despite revenue declines and a net loss, the company showed strengths in customer finance growth, cost management, and strategic planning for sustained profitability.
Challenges in asset quality metrics and new loan volumes were offset by opportunities in economic resilience, innovation, and cost optimization strategies.
The company's performance and strategic direction indicate a resilient approach to market dynamics and a commitment to long-term growth and shareholder value.

Lufax Holding reports Q1 profitability amid economic recovery challenges

Lufax Holding navigated challenges in Q1 2023 by achieving profitability through lower credit impairment losses and focusing on a more resilient business model. Despite facing questions on loan pricing, asset quality, and funding costs, the company demonstrated strengths in improving credit and asset quality. Opportunities for growth exist in tech-based income growth and strategic initiatives for recovery.

Lufax Holding prioritizes asset quality and cost efficiency in Q2

Lufax Holding's Q2 performance reflected a focus on asset quality, cost optimization, and transitioning to a 100% guarantee model. While facing challenges in new loan sales and credit loss provisions, the company aims for positive long-term results. Opportunities in U-shape recovery, higher-quality customer segments, and new product strategies position Lufax for growth.

Lufax Holding (LU) reports solid Q3 performance amidst profitability transition

Lufax Holding (LU) delivered strong financial results in Q3 2023, showcasing growth in key areas and a focus on operational efficiency. While facing profitability pressures in the medium term, the company is strategically positioned to capitalize on growth opportunities and enhance shareholder value.

Lufax Holding (LU) faces Q4 challenges but shows commitment to shareholders

Lufax Holding (LU) reported a decline in financial metrics in Q4 2023 due to strategic shifts and derisking actions. Management's emphasis on cost optimization and shareholder returns through special dividends reflects a disciplined approach. Challenges include profitability hurdles post-transition and macroeconomic headwinds for SBOs.

Lufax Holding reports Q1 loss, focuses on quality over quantity

Lufax Holding's Q1 2024 showcased challenges in loan sales and revenue, offset by asset quality improvements and consumer finance growth.
The company's shift to a 100% guarantee model impacted risk-bearing positively, aligning with a focus on quality over quantity.
Despite financial challenges, opportunities lie in special dividends, asset quality sustainability, and optimizing unit economics.

Lufax Holding reports Q2 loss, eyes growth through strategic moves

Lufax Holding faces challenges with a significant decline in total income and a net loss for Q2 2024, prompting a focus on financial performance.
Strategic acquisitions and efforts to reduce funding costs and improve operational efficiency signal a proactive approach to addressing challenges.
Asset quality improvements and decreased credit impairment losses demonstrate positive steps in managing risk and enhancing financial stability.
Collaboration potential with Ping An Group and opportunities for market expansion present avenues for growth and strategic development.

Lufax Holding reports steady growth in consumer finance amidst challenges

Lufax Holding demonstrated resilience in consumer finance growth and asset quality stability amidst challenges in Puhui loan demand.
The company's strategic initiatives, including the small lending license acquisition, aim to drive future growth and enhance operational efficiency.
While facing revenue challenges and a net loss in Q3, Lufax Holding remains focused on optimizing costs and exploring new market opportunities.
Overall, Lufax Holding's performance reflects a balanced approach to navigating market dynamics and pursuing sustainable growth strategies.

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The stock has been under pressure in recent times due to macro weakness in China. Despite risks, I consider Lufax's current price attractive. I rate the stock a buy with a 1-year target price upside potential of 60%. PAOB integration should help Lufax access lower funding costs to drive top-line growth and margin expansion.

Lufax: Lower Funding Cost To Drive Loan Growth

SHANGHAI , Dec. 15, 2023 /PRNewswire/ -- Lufax Holding Ltd ("Lufax" or the "Company") (NYSE: LU and HKEX: 6623), a leading financial services enabler for small business owners in China, today announced that it received a letter from the New York Stock Exchange (the "NYSE") dated November 30, 2023, notifying the Company that it is below the NYSE's continued listing standards due to the trading price of Lufax's American depositary shares (the "ADSs"). The notice had no immediate impact on the listing of the Company's ADSs, which will continue to be listed and traded on the NYSE, subject to the Company's compliance with other NYSE continued listing standards and other rights of the NYSE to delist the ADSs.

Lufax Announces Receipt of Notice Regarding NYSE Continued Listing Standards and Effectiveness of its ADS Ratio Change

SHANGHAI , Nov. 20, 2023 /PRNewswire/ -- Lufax Holding Ltd ("Lufax" or the "Company") (NYSE: LU and HKEX: 6623), a leading financial services enabler for small business owners in China, today announced that it plans to change the ratio of its American Depositary Shares ("ADSs") to its ordinary shares (the "ADS Ratio"), par value US$0.00001 per share, from the current ADS Ratio of two (2) ADSs to one (1) ordinary share to a new ADS Ratio of one (1) ADS to two (2) ordinary shares. The Company anticipates that the change in the ADS Ratio will be effective on or about December 15, 2023 (the "Effective Date").

Lufax Holding Ltd Announces Plan to Implement ADS Ratio Change

Lufax Holdings (NYSE: LU) stock price was sitting at a record low as concerns about its slow growth continued. The shares have moved below the important support level of $1 after it published weak financial results and made a big acquisition.

Lufax stock price crashes below $1 but a rebound is still possible

Lufax Holding Ltd (NYSE:LU ) Q3 2023 Earnings Conference Call November 13, 2023 8:00 PM ET Company Participants Liu Xinyan - Head of Board Office and Capital Markets Y. S. Cho - Co-CEO and Chairman Gregory Gibb - Co-CEO David Choy - CFO Conference Call Participants Emma Chu - Bank of America Alex Ye - UBS Yada Li - CICC Operator Ladies and gentlemen, thank you for standing by, and welcome to the Lufax Holding Limited Third Quarter 2023 Earnings Call.

Lufax Holding Ltd (LU) Q3 2023 Earnings Call Transcript

SHANGHAI , Nov. 13, 2023 /PRNewswire/ -- Lufax Holding Ltd ("Lufax" or the "Company") (NYSE: LU and HKEX: 6623), a leading financial services enabler for small business owners in China, today announced its unaudited financial results for the third quarter ended September 30, 2023. Third Quarter 2023 Financial Highlights Total income was RMB8,050 million (US$1,103 million) in the third quarter of 2023, compared to RMB13,193 million in the same period of 2022.

Lufax Reports Third Quarter 2023 Financial Results

SHANGHAI , Nov. 7, 2023 /PRNewswire/ -- Lufax Holding Ltd ("Lufax" or the "Company") (NYSE: LU), a leading financial services enabler for small business owners in China, today announced that it plans to release its third quarter 2023 financial results after the market closes on Monday, November 13, 2023 U.S. Eastern Time. The Company's management will hold an earnings conference call at 8:00 P.M.

Lufax to Announce Third Quarter 2023 Financial Results on November 13, 2023

Lufax badly missed top-line expectations for the second quarter given continued macroheadwinds. The China-based fintech beat on earnings, helped by its focus on asset quality over quantity.

Why Lufax Holding Stock Dropped Today

Lufax Holding Ltd (NYSE:LU ) Q2 2023 Results Conference Call August 21, 2023 9:00 PM ET Company Participants Liu Xinyan - Head of Board Office and Capital Markets Y. S. Cho - Co-CEO and Chairman of the Board Gregory Gibb - Co-CEO and Director Siu Choy - Chief Financial Officer Conference Call Participants Alex Ye - UBS Emma Chu - Bank of America Chiyao Huang - Morgan Stanley Yada Li - CICC Operator Ladies and gentlemen, thank you for standing by, and welcome to the Lufax Holding Limited Second Quarter 2023 Earnings Call.

Lufax Holding Ltd (LU) Q2 2023 Earnings Call Transcript

Lufax Holding Ltd. Sponsored ADR (LU) came out with quarterly earnings of $0.06 per share, beating the Zacks Consensus Estimate of $0.05 per share.

Lufax Holding Ltd. Sponsored ADR (LU) Q2 Earnings Top Estimates

SHANGHAI , Aug. 21, 2023 /PRNewswire/ -- Lufax Holding Ltd ("Lufax" or the "Company") (NYSE: LU and HKEX: 6623), a leading financial services enabler for small business owners in China, today announced its unaudited financial results for the second quarter ended June 30, 2023. Second Quarter 2023 & First Half 2023 Financial Highlights Total income was RMB9,270 million (US$1,278 million) in the second quarter of 2023, compared to RMB15,288 million in the same period of 2022, representing a decrease of 39.4%.

Lufax Reports Second Quarter 2023 Financial Results

SHANGHAI , Aug. 15, 2023 /PRNewswire/ -- Lufax Holding Ltd ("Lufax" or the "Company") (NYSE: LU), a leading financial services enabler for small business owners in China, today announced that it plans to release its second quarter 2023 financial results after the market closes on Monday, August 21, 2023 U.S. Eastern Time. The Company's management will hold an earnings conference call at 9:00 P.M.

Lufax to Announce Second Quarter 2023 Financial Results on August 21, 2023

SHANGHAI , Aug. 8, 2023 /PRNewswire/ -- Lufax Holding Ltd ("Lufax" or the "Company") (NYSE: LU and HKEX: 6623), a leading financial services enabler for small business owners in China, today announced that Mr. Guangheng Ji has tendered his resignation as a non-executive director and other relevant positions of the Company, due to change of his personal work arrangements.

Changes in Board Composition

China's reopening has seen a decline in the technology sector, with cyclical financials and tech companies suffering from regulatory crackdowns and a soft post-COVID reopening. Lufax Holding, a fintech company, is seen as an opportunity due to its low price-to-book ratio; it is a leading technology-empowered personal financial services platform in China. Despite a tough economic period, Lufax is considered undervalued and offers potential for investors, although prudent risk management is advised due to China's uncertain economic situation.

Lufax: Likely Undervalued, Eyeing Support Ahead Of Q2 Results

Lufax Holding Ltd (NYSE:LU ) Q1 2023 Earnings Conference Call May 22, 2023 9:00 PM ET Company Participants Liu Xinyan - Head, Board Office and Capital Markets Y.S. Cho - Co-CEO & Chairman David Choy - CFO Gregory Gibb - Co-CEO & Director Conference Call Participants Alex Ye - UBS Emma Xu - Bank of America Merrill Lynch Richard Xu - Morgan Stanley Yada Li - CICC Operator Ladies and gentlemen, thank you for standing by, and welcome to Lufax Holding Limited First Quarter 2023 earnings call.

Lufax Holding Ltd (LU) Q1 2023 Earnings Call Transcript

Lufax Holding Ltd. Sponsored ADR (LU) came out with quarterly earnings of $0.04 per share, beating the Zacks Consensus Estimate of $0.02 per share.

Lufax Holding Ltd. Sponsored ADR (LU) Surpasses Q1 Earnings Estimates

SHANGHAI , May 22, 2023 /PRNewswire/ -- Lufax Holding Ltd ("Lufax" or the "Company") (NYSE: LU and HKEX: 6623), a leading financial services enabler for small business owners in China, today announced its unaudited financial results for the first quarter ended March 31, 2023. First Quarter 2023 Financial Highlights Total income was RMB10,078 million (US$1,467 million) in the first quarter of 2023, compared to RMB17,316 million in the same period of 2022, representing a decrease of 41.8%.

Lufax Reports First Quarter 2023 Financial Results

SHANGHAI , May 16, 2023 /PRNewswire/ -- Lufax Holding Ltd ("Lufax" or the "Company") (NYSE: LU), a leading financial services enabler for small business owners in China, today announced that it plans to release its first quarter 2023 financial results after the market closes on Monday, May 22, 2023 U.S. Eastern Time. The Company's management will hold an earnings conference call at 9:00 P.M.

Lufax to Announce First Quarter 2023 Financial Results on May 22, 2023

SHANGHAI , April 14, 2023 /PRNewswire/ -- Lufax Holding Ltd ("Lufax" or the "Company") (NYSE: LU), a leading financial services enabler for small business owners in China, today announced that it has successfully listed, by way of introduction, its ordinary shares (the "Shares") on the Main Board of The Stock Exchange of Hong Kong Limited (the "HKEX"). The Shares are traded on the Main Board of the HKEX under the stock code "6623" in board lots of 100 Shares, and the stock short name is "LUFAX".

Lufax Holding Ltd Successfully Listed on the Main Board of The Stock Exchange of Hong Kong

SHANGHAI , April 12, 2023 /PRNewswire/ -- Lufax Holding Ltd ("Lufax" or the "Company") (NYSE: LU), a leading financial services enabler for small business owners in China, today announced that each of the following proposed resolutions submitted for shareholder approval have been adopted at its extraordinary general meeting (the "EGM") of shareholders held in Shanghai today, and after the adoption of the proposed resolutions, all corporate authorizations and actions contemplated thereunder were approved:

Lufax Holding Ltd Announces Results of Extraordinary General Meeting

Lufax Holding proposed a dual primary listing on the Stock Exchange of Hong Kong. The listing should enhance liquidity and expand its investor base.

Why Lufax Holding Stock Was Surging on Tuesday

SHANGHAI , April 11, 2023 /PRNewswire/ -- Lufax Holding Ltd ("Lufax" or the "Company") (NYSE: LU), a leading financial services enabler for small business owners in China, today announced the proposed dual primary listing of its ordinary shares, par value US$0.00001 per share (the "Shares") by way of introduction on the Main Board of The Stock Exchange of Hong Kong Limited (the "HKEX"). The Company's American depositary shares (the "ADSs"), every two representing one Share, will continue to be primarily listed and traded on the New York Stock Exchange (the "NYSE").

Lufax Holding Ltd Announces Proposed Dual Primary Listing on The Stock Exchange of Hong Kong Limited

SHANGHAI , April 10, 2023 /PRNewswire/ -- Lufax Holding Ltd ("Lufax" or the "Company") (NYSE: LU), a leading financial services enabler for small business owners in China, today announced that after careful consideration, the board of directors of the Company has approved to adjourn, subject to further notice, proposals 3, 4, and 5 that were set forth in its notice (the "Notice") for the upcoming extraordinary general meeting (the "EGM") to be held on April 12, 2023 (the "Adjournment of the Proposals"). The Notice had been published on the Company's website at https://ir.lufaxholding.com/ on March 13, 2023.

Lufax Makes Further Announcement about Extraordinary General Meeting to be Held on April 12, 2023

SHANGHAI , April 7, 2023 /PRNewswire/ --  Lufax Holding Ltd ("Lufax" or the "Company") (NYSE: LU), a leading financial services enabler for small business owners in China, today announced that it filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2022 with the Securities and Exchange Commission on April 7, 2023. The Annual Report can be accessed on the Company's investor relations website at https://ir.lufaxholding.com.

Lufax Files Its Annual Report on Form 20-F

Lufax Holding Ltd (NYSE:LU ) Q4 2022 Results Conference Call March 12, 2023 9:00 PM ET Company Participants Xinyan Liu - Head, Board Office and Capital Markets Y.S. Cho - Chairman and CEO Greg Gibb - Co-CEO David Choy - CFO Conference Call Participants Yada Li - CICC Richard Xu - Morgan Stanley Alex Ye - UBS Emma Xu - Bank of America Operator Ladies and gentlemen, thank you for standing by, and welcome to the Lufax Holding Limited Fourth Quarter 2022 Earnings Call.

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